sink asset load power pool ISO pool participant bids operating constraints ancillary service declarations

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1 G1 DEFINITIONS In the ISO rules: acceptable operational reason means with respect to a source asset, any one or more of the following: i) a circumstance related to the operation of the generating asset which if it operated could reasonably be expected to affect the safety of the generating asset, the environment, personnel working at the generating asset or the public, or ii) re-positioning an asset within the energy market due to the need to meet a dispatch given to that asset from the system controller to serve the stand-by ancillary services market; or iii) re-positioning a generating asset within the energy market to manage unanticipated physical or operational constraints associated with the asset, or iv) re-positioning an importer s asset within the energy market to manage physical or operational constraints associated with an interconnection v) a circumstance directly resulting in the generating asset not being capable of operation, which circumstance was solely caused by an occurrence of force majeure, or vi) re-positioning a generating asset for electric energy that is a. produced on the property of which a person is the owner or a tenant; and b. consumed solely by that person and solely on that property. "asset" means a generating asset, load, import volume, export volume or other power pool transaction represented by an ISO identifier that enables a pool participant to submit bids, offers, operating constraints, ancillary service declarations and/or identify specific settlement information. "asset marginal price" means the price in $/MWh of a pool participant's asset determined in accordance with rule available capability (AC) means with respect to the following: for a generating asset, the maximum quantity (MW) that the generating asset is physically capable of providing during each settlement interval of the trading day. for an import source asset, the maximum quantity (MW) that the importer is capable of providing during each settlement interval of the trading day up to the total amount of transmission held in the neighbouring jurisdiction by the pool participant for those settlement intervals. for a bid, the maximum quantity (MW), after accounting for any restatements to the asset s availability to which the asset may receive an energy market dispatch in real time operations. "bid" means a submission made by a pool participant in accordance with rule 3.0. current submission means a valid offer or bid submitted in accordance with rule and includes any revision submitted of prices and quantities in MW for that offer or bid in accordance with rule b), , b) or energy market suspension means an action which involves interrupting the normal method of calculating the marginal price as outlined in the ISO rules, and the system controller issuing generation, load and transmission dispatches and directives in order to return the AIES to a reliable and secure state. 1

2 energy production uplift means an amount that may be paid to a pool participant with a source asset that has received an energy market dispatch, subject to the conditions and calculations provided for in rule "forecast asset marginal price" means the price of a pool participant s asset in $/MWh determined in accordance with rule "forecast dispatch price" means the price in $/MWh calculated for each settlement interval in accordance with rule import marginal price means the price of the highest priced operating block that would have been required to meet the load requirement if the out of merit import operating block had not been dispatched. in merit means a designation applied to an asset dispatched by the system controller that qualifies the asset as eligible to set the system marginal price. marginal price means the price in $/MWh determined for each minute of a settlement interval in accordance with rule maximum capability means: for a generating asset, the maximum quantity (MW) that the asset is physically capable of providing under optimal operating conditions for that asset; or for an import source asset, the available capability. "offer" means a submission made by a pool participant in accordance with rule 3.0. out of merit dispatch period means the time in minutes where the generating asset block has an offer price greater than the system marginal price and less than or equal to the import marginal price. "pool price" means the price for electric energy in $/MWh reported by the ISO for each settlement interval of the trading day in accordance with rule reference price means the price block assigned to a generating asset providing transmission must run service. "registered aggregate asset" means: in relation to multiple generating assets physically located at a single site, that a single offer must be submitted for the cumulative capability of the generators located at the site; or in relation to certain run of river hydro generation schemes that a single offer must be submitted for the cumulative capability of the registered group of generators; or in relation to certain generating assets or demand management processes that are operated via a single command and control scheme, that a single offer or bid must be submitted for the cumulative capability of the management scheme. 2

3 sink asset means a load, export volume or other power pool transaction represented by an ISO identifier that enables a pool participant to submit bids, operating constraints, ancillary service declarations and/or identify net settlement instruction MWh volumes bought from a seller to be settled in the power pool. source asset means a generating asset, import volume, or other power pool transaction represented by an ISO identifier that enables a pool participant to submit offers, operating constraints, ancillary service declarations and/or identify net settlement instruction MWh volumes sold to a purchaser to be settled in the power pool. "trading day" means the day to which an offer or bid relates and for which the available capability in an offer is binding, starting with HE 1 and ending HE 24. 3

4 3. OFFERS, BIDS, ANCILLARY SERVICES AND ASSET DECLARATIONS 3.1 Purpose of Rule The purpose of this rule is to prescribe the process and conditions by which a pool participant submits offers, bids and provides other asset declarations. 3.2 Who Submits an Offer or Bid Pool participants submit offers and bids for an asset opposite their name in the ISO asset list. a) In accordance with rule a), a pool participant with an active source asset must submit an offer to the power pool. In accordance with rule , a pool participant with an active sink asset may submit a bid to the power pool. b) Pool participants submit offers or bids in respect to an asset listed opposite their name in the ISO asset list but not otherwise, unless they are representing a pool participant as an agent, approved under rule How to Submit an Offer, Bid, Operating Constraint or Ancillary Service Declaration b) Offers, bids, operating constraints and ancillary service declarations submitted to the ISO by means other than the primary electronic means must be compatible, in the ISO s opinion, with the ISO s computer software and procedures and in accordance with alternative means listed in rule Offers and Bids Block Allocations The ISO will allocate to: a) each pool participant who has registered a generating asset, one asset per generating asset or registered aggregate asset, comprised of seven blocks. b) each importer, one asset per interconnection, with each asset comprised of seven blocks. c) each pool participant with energy consumption within a settlement zone, at least one asset for each such zone, with each asset comprised of seven blocks. d) each exporter, one asset per interconnection with each asset comprised of one block with a $ bid price Submission Timing a) Any pool participant submitting an offer or bid for an asset must submit such offer or bid for the next trading day to the ISO before 12:00 hours of the day before the next trading day. b) A pool participant may submit an offer or bid for the forecast scheduling period. c) In accordance with rule 3.7, a pool participant may submit a standing offer or standing bid. 4

5 3.5.3 Offers A pool participant s offer for each source asset must consist of price in $/MWh and quantity in MW for each block allocated to the source asset Submitting Offers a) A pool participant with a source asset that has a maximum capability of 5 MW or greater must submit an offer for such asset. b) The quantity in MW of each such offer must total the maximum capability of the source asset. c) The available capability (MW) for each source asset must be stated. Available capability must equal the maximum capability, unless the pool participant has submitted an acceptable operational reason with the offer. d) A pool participant must submit whether each block of its offer is a flexible block or inflexible block Mandatory Energy Restatements a) A pool participant who has submitted an offer must submit an energy restatement restating the available capability of the source asset for the applicable hours in the trading day, as soon as reasonably practicable, if there is a change to the available capability. The energy restatement is subject to the following conditions: 1) If the restated available capability is reduced, then the quantity (MW) reduction will be applied to the blocks in the current submission in order of descending price; 2) If the restated available capability is increased, then the quantity (MW) increase will be applied to the blocks in the current submission in order of ascending price. b) A pool participant who has submitted an offer must submit a revised offer for its asset redistributing the quantity (MW) to represent the operating state of the asset, as soon as reasonably practicable, if all of the following conditions are met: i) the asset can no longer comply with the pool participant s current submission; ii) an energy restatement under a) cannot reasonably accommodate the asset s operating state; and iii) the pool participant can no longer submit a price restatement in accordance with rule c) A pool participant must submit the reason or reasons for submitting an energy restatement in accordance with A pool participant must record and provide to the ISO, if requested and within a reasonable time from such request, the basis on which it determined that there was an acceptable operational reason Voluntary Price Restatements a) A pool participant who has submitted an offer may submit a price restatement prior to 5

6 two hours before the start of a settlement interval within the trading day. b) A price restatement is a revised offer of an asset which restates the price in $/MWh or the quantity in MW or both, for each block allocated to a pool participant s source asset. Notwithstanding the foregoing, a price restatement cannot result in a change to the maximum capability or the available capability of the asset Additional Information a) Each pool participant who has submitted an offer must submit operating constraints with respect to each generating asset, including the following: i) ramp rate; ii) the time required by the generating asset to synchronize with the AIES from its off-line state; iii) minimum stable generation; and iv) other, as reasonably requested by the ISO b) A pool participant must submit to the ISO any changes to the operating constraints of such generating asset as soon as reasonably practicable Implementation of Offers a) The ISO will implement revisions to offers in the manner outlined in rules and b) When a generating asset has been issued both an ancillary service dispatch and an energy market dispatch for the same period, the ISO will deduct the quantity of MW in such ancillary service dispatch from the available capability of such asset for the purposes of determining the quantity of MW of the energy market dispatch. Such determination will be undertaken in the same manner as energy restatements pursuant to rule Bids A pool participant s bid for each sink asset must consist of price in $/MWh and quantity in MW for each block allocated to the sink asset Submitting Bids A pool participant with a sink asset that may submit a bid for such asset Mandatory Energy Restatements a) A pool participant who has submitted a bid must restate the available capability of the asset for the applicable hours in the trading day, as soon as reasonably practicable, if there is a change to the available capability. The energy restatement is subject to the following conditions: 1) If the restated available capability is increased, then the increase will be added to the current submission s lowest priced operating block; 2) With the exception of the current submission s lowest priced operating block submitted for the asset, each of the remaining block sizes may not be increased beyond the amount of each specified in the current submission; 6

7 3) If the restated available capability is decreased, then the MW reduction will be applied to the asset's operating blocks in the current submission in order of ascending price; 4) Subsequent energy restatements which: i) increase the available capability at which the asset will be available, will be re-applied to the current submission blocks in order of descending price; ii) decrease the available capability will continue to be applied to the current submission blocks in order of ascending price; b) A pool participant who has submitted a bid and whose asset meets all of the following conditions, must submit a revised bid, as soon as reasonably practicable, redistributing the quantity (MW) to represent the operating state of the asset if: i) the pool participant or asset cannot comply with the bid ii) an energy restatement under a) cannot reasonably accommodate the change to the bid; and iii) the pool participant can no longer submit a price restatement in accordance with rule for such asset Voluntary Restatements a) A pool participant who has submitted a bid may submit a price restatement prior to two hours before the start of a settlement interval within the trading day. b) A price restatement is a revised bid of an asset, which restates the price in $/MWh or the quantity in MW or both, for each block allocated to a pool participant s sink asset Additional Information a) A pool participant must submit operating constraints with respect to each intra- Alberta sink asset, including the following: i) ramp rate; ii) the time required to respond to a dispatch; and iii) other, as reasonably requested by the ISO b) A pool participant must submit to the ISO any changes to the operating constraints of such intra-alberta sink asset as soon as reasonably practicable Restatement Implementation The ISO will implement revisions to bids in the manner outlined in rule and Standing Offers and Bids Pool participants submit offer and bids that stand, unless otherwise changed by the pool participant. 7

8 a) A pool participant submits a standing offer or standing bid to the ISO by submitting an offer or bid for the last day in the forecast scheduling period. The standing offer or standing bid is valid until changed by the pool participant. b) The ISO will use the last standing offer or standing bid and the available capability submission data for the day following the forecast scheduling period. c) An asset for which a pool participant does not submit a bid in accordance with rule will receive a default standing bid and be declared unavailable for the next trading day and for the forecast scheduling period by the ISO. The ISO will assign a $ price and zero MW volume to bid assets for all settlement intervals of the next trading day. MW volume and price of the asset may be adjusted during the trading day in accordance with rule and Registration of Aggregate Assets A pool participant may, upon formal notification and with the approval of the ISO, submit single offers or bids for a registered aggregate asset. 3.9 Validity or Invalidity of Offers and Bids To be considered valid, offers and bids must meet specific price tests, and be acknowledged by the ISO. a) Any offer price or bid price must be specified to the nearest cent per MWh, must be greater than or equal to $0/MWh and must be less than $1000/MWh. b) The ISO will, as soon as reasonably practicable following the receipt of an offer or bid send to the pool participant who submitted the offer or bid: i) Acknowledgment of receipt of the offer or bid; and ii) notification that the offer or bid is either valid or invalid with respect to these rules and the information required in accordance with software and procedures. If an offer or bid is, in the opinion of the ISO, invalid, such notification will include explanation why the offer or bid is not accepted. 8

9 5. ADEQUACY AND PRICE FORECASTING 5.1 Adequacy Assessment An adequacy assessment will be prepared by the ISO for each settlement interval for the trading day and for the 6 remaining days of the forecast scheduling period on the day preceding that trading day. The ISO will: a) review the offers, bids and forecasted load for the trading day as soon as practicable and will use reasonable efforts to review it no later than 18:00 of the preceding day. b) assess the forecasted load requirement against the available supply throughout the preceding day and the trading day to account for changes in adequacy. In accordance with the ISO supply shortfall operating policies and procedures, the ISO may direct or request generating assets if the the forecasted load requirement exceeds the available supply in any settlement interval Forecast Dispatch Price The ISO will use reasonable efforts to publish a forecast dispatch price for each settlement interval no later than 70 minutes prior to the start of such settlement interval Determination of Forecast Dispatch Price The forecast dispatch price for a settlement interval is the highest forecast asset marginal price of all assets forecast to be required to meet the forecast load requirement, using the expected energy market merit order for the settlement interval including importer operating blocks and the ISO expected import ATC for the interconnections for the settlement interval Determination of Forecast Asset Marginal Price The forecast asset marginal price for a pool participant's asset for each settlement interval will be set at the price specified for the price block in the pool participant's offer or bid which corresponds to the forecast energy market dispatch level of the asset to meet the forecast load requirement. [Note to editor: move Rule 5.4 to rule 6.3.4] Equal Price Offers or Bids The ISO will follow certain guidelines to manage equal price offers or bids for assets during a settlement interval. If a price of an offer or bid submitted in respect of an asset for a settlement interval is identical to the corresponding price of another offer or bid in respect of another asset for the same settlement interval, the ISO will: a) Determine the energy market dispatch by considering applicable constraint information for each of the assets, and b) If equal offers or bids remain; then as necessary proportioning participation amongst the assets within the settlement interval to the extent that identified offer or bid constraints allow and in a manner determined appropriate by the ISO. 9

10 6. DISPATCH AND DIRECTIVES 6.1 Asset Dispatching The system controller will dispatch assets according to the rules and the terms and conditions of the bids and offers. An asset will be dispatched within the terms and constraints set out in the ISO rules and the respective offer or bid associated with that asset Interconnection Dispatching Interconnection scheduling is subject to the operating procedures of other control areas. Energy market dispatch will be in the same form for all pool participants. NERC e-tags are required for interchange transactions. An energy market dispatch on the interconnections must take these procedural conditions into account: a) The physical scheduling of energy on an external interconnection is governed by the operating procedures agreed to by the ISO with the control area operator at the other end of the interconnection. b) b) The system controller will use the same form of energy market dispatch as provided in rule The pool participant must submit electronic tags (e-tags) for each interchange transaction. c) The ISO will forecast a dispatch price for the settlement interval not less than 70 minutes prior to the start of the settlement interval. The forecast dispatch price will be determined using the expected energy market merit order for the settlement interval including importer operating blocks and the ISO expected import ATC for the interconnections for the settlement interval. d) The ISO will use reasonable efforts to provide an advance energy dispatch to importers 70 minutes prior to the start of the settlement interval if the import asset s operating block is priced less than or equal to the forecast dispatch price for the settlement interval. e) An importer must make reasonable efforts to procure transmission service for the amount of the advance energy dispatch. f) The sum of the importer s e-tag quantities may only be less than the advance energy market dispatch if the importer has an acceptable operational reason. Each importer who has received an energy market dispatch must submit an energy restatement in accordance with rule a) prior to the settlement interval in which the energy market dispatch is to take effect, if the sum of the importer s e-tag quantities (MW) for such settlement interval is less than the energy market dispatch (MW). Unless otherwise requested by the system controller under rule 6.3.6, the sum of the e-tag quantities (MW) cannot be greater than the energy market dispatch (MW). 10

11 Note to Editor: Insert previous rule 5.4 here, renumbered Long Lead Time Energy Dispatch a) A pool participant with a generating asset that requires more than one hour to synchronize must submit to the ISO the time of day that such generating asset will be synchronized to the AIES. b) Such time of day must represent the physical condition of the generating asset as determined by either the time of the last notice of the generating asset s intention to start or the time of the last dispatch off, as it relates to the operating constraint submitted to the ISO under rule The time of day must be submitted at least two hours prior to the beginning of the settlement interval c) In accordance with ISO operating policies and procedures, the system controller may request a pool participant to start up a generating asset that requires greater than one hour to start up by a specified settlement interval, if the adequacy assessment pursuant to rule forecasts insufficient supply to meet AIES demand during and after such settlement interval. d) A pool participant who has received a request pursuant to rule c) must notify the system controller as soon as reasonably practicable after the request whether it intends to start up the generating asset. e) A generating asset that has indicated its intention to start may withdraw its intention to start up to two hours prior to the start of the settlement interval Supply Shortfall Directive If during the trading day the system controller determines that the forecasted AIES load requirement exceeds the available supply in any settlement interval, the system controller will use ISO supply shortfall operating policies and procedures to issue directives as required Supply Surplus Directive Declaration of Pool Price Pool Price Determination The pool price for any settlement interval will be based on the time weighted average of the 60 one minute marginal price values determined for each minute of the settlement interval. The marginal price at each minute is the system marginal price, except: a) if one or more importers have received an energy market dispatch and any of their price blocks are greater than the system marginal price then, the marginal price will be set at the highest priced operating block, including the importers blocks, that would have been required to meet the AIES demand; or b) if one or more transmission must run assets have received an ancillary service dispatch and their reference prices are higher than the system marginal price then, the marginal price will be set at the highest priced operating block that would have been required to meet the AIES demand as if the transmission must run assets blocks had not received an ancillary service market dispatch; or 11

12 c) if one or more importers have received an energy market dispatch and any of their price blocks are higher than the system marginal price and one or more transmission must run assets have received an ancillary service dispatch and their reference prices are higher than the system marginal price then, the marginal price will be set at the highest priced operating block, including the importers blocks, that would have been required to meet the AIES demand as if the transmission must run assets blocks had not received an ancillary service market dispatch; or d) if to maintain system security the system controller had directed an involuntary curtailment of non-price responsive load in accordance with rule 6.8, then the marginal price is $1000/MWh; or e) as prescribed in rule 6.9 in the event of an energy market suspension Determination of System Marginal Price The system marginal price at each minute of a settlement interval must be the highest eligible asset marginal price of all assets required to meet AIES demand for such settlement interval. The asset marginal price for a pool participant's asset for each minute of a settlement interval will be set at the price specified for the price block in the pool participant's offer or bid for such asset which corresponds to the energy market dispatch of such asset at the time the energy market dispatch was issued and accepted by the pool participant, pursuant to the following conditions: a) The asset is not used to calculate the system marginal price if the price block for that asset has not received an energy market dispatch in the settlement interval; b) The asset marginal price of an interchange transaction is not used to set the system marginal price. 6.6 Pool Participant Non-Compliance with Energy Market Dispatch and Directives A pool participant may only supply energy if it has received either an energy market dispatch or a directive. A pool participant who has not received an energy market dispatch or a directive and supplies energy may be subject to sanction. Pool participants must only deliver energy to the AIES pursuant to a dispatch or a directive issued by the system controller. Pool participants must not deliver energy to the AIES when the system controller has not issued a dispatch or a directive to do so. In any circumstance where an energy market dispatch is not followed, the pool participant will be considered in non-compliance with the energy market dispatch. The pool participant must advise the system controller as soon as practical that the energy market dispatch will not be complied with and the pool participant will as soon as practicable submit a new offer or bid restating the status of the asset to reflect the non-acceptance of the energy market dispatch. 12

13 The pool participant must ensure that the generating asset is operated to the quantity (MW) dispatched or directed. The pool participant is in non-compliance when the quantity (MW) delivered varies by greater than +5 MW from the highest energy market dispatch quantity (MW) or the directive quantity (MW). In the case of a generating asset that is supplying regulating reserve, the pool participant is non-compliant when the quantity (MW) delivered is less than the energy market dispatch quantity (MW) minus 5 MW or greater than the energy market dispatch quantity (MW) plus the regulation range plus 5 MW. The pool participant is responsible for coordinating their energy and ancillary services submissions to ensure that such pool participant is able to comply with an ancillary service dispatch or energy market dispatch issued pursuant to such submissions. Any non-compliance with an energy market dispatch or a directive is subject to review and may be subject to sanction by the ISO. As an exception, energy delivered to the AIES while a pool participant is testing and/or commissioning, a generating unit will be considered compliant, provided however, that the pool participant has complied with the ISO Operating Policies and Procedures and has received approval from the system controller. 6.9 Energy Market Suspension Objective The suspension of the energy market means that the system controller is not obliged to follow the energy market merit order nor the ancillary services merit order in issuing dispatches and that the marginal price will be predefined and set in accordance with rule Initiating an Energy Market Suspension d) The system controller is unable to issue dispatches under normal market operations Pricing of Energy During Energy Market Suspension During an energy market suspension, the ISO will follow certain protocol to set the marginal price. During periods of energy market suspension the marginal price will be set at the following levels for the duration of the suspension, dependent upon the reason for the suspension: a) The marginal price will be set at $50/MWh in the event of a blackout; b) The marginal price will be set at the price of the last block receiving an energy market dispatch that was eligible to set pool price using the last available energy market merit order prior to the energy market suspension in the event that 13

14 If an order from the EUB to suspend market operations occurs, the marginal price will be set at the price ordered by the Alberta Energy and Utilities Board, or lacking this direction, at the price of the last block receiving an energy market dispatch that was eligible to set pool price using the last available energy market merit order prior to the energy market suspension. 14

15 7. LOAD SETTLEMENT Please click here to see load settlement rules. 15

16 8. POWER POOL FINANCIAL SETTLEMENT 8.1 Source Asset Calculations Settlement at Pool Price For each source asset and for each settlement interval the pool participant will receive the amount calculated by the following formula: Energy payment in $ = ((energy production in MWh) minus (net settlement instruction MWh volumes in MWh)) multiplied by (pool price in $/MWh) where: energy production in MWh is the metered MWh value for generating assets or the interchange MWh schedule across the interconnection for importing assets. If the energy production in MWh is less than the net settlement instruction MWh volume then the pool participant is deemed to have purchased the MWh volume difference from the power pool. The pool participant must pay to the ISO in respect of electric energy received by it in a settlement interval an amount equal to the energy payment Payment to Suppliers on the Margin a) A pool participant with a source asset that has delivered energy pursuant to an energy market dispatch during a settlement interval is eligible to receive energy production uplift for the settlement interval if the following conditions are met: i) An operating block receives an energy market dispatch; ii) The offer price associated with the operating block is greater than the pool price; and iii) The average rate of energy production of the source asset is greater than the sum of the quantity (MW) of all blocks of such offer below the block referred to in i) and ii). b) In the event the foregoing conditions have been met, then the pool participant will be paid by the ISO energy production uplift in $ calculated as follows: i ) If during such settlement interval (A minus B) is less than or equal to [(C minus B) multiplied by marginal dispatch time divided by 60], then energy production uplift in $ = (A minus B) multiplied by (D minus pool price) ii) If during such settlement interval (A minus B) is greater than [(C minus B) multiplied by marginal dispatch time divided by 60], then energy production uplift in $ = (C minus B) multiplied by (D minus pool price) multiplied by marginal dispatch time divided by 60 Where for purposes of this rule 8.1.2, the following applies: A = the average rate (MW) of energy production of such source asset B = sum of the quantity (MW) of all dispatched blocks of such source asset with offer prices less than the offer price of the block that is eligible for energy production uplift for the same source asset C = the energy market dispatch level (MW) up to the block eligible for energy production uplift for such source asset D = the offer price associated with the energy market dispatch MW level in C 16

17 marginal dispatch time means the number of minutes that the block that is eligible for energy production uplift is dispatched c) In any case where there is more than one dispatched block greater than pool price, the pool participant will be paid energy production uplift calculated by the formula(s) in b) for each such dispatched block Out of Merit Dispatch Payment A pool participant with a generating asset block that has an offer price greater than or equal to the system marginal price and less than or equal to the import marginal price is eligible to receive from the ISO an out of merit dispatch payment for a settlement interval as calculated by the following formula: Out of merit dispatch payment in $ = (import marginal price in $ minus generating asset offer price in $) multiplied by out of merit dispatch quantity in MW multiplied by out of merit dispatch period in minutes divided by 60 minutes Where: out of merit dispatch quantity means the portion of the operating block that would have been required to meet the load requirement if the import assets block(s) had not received an energy market dispatch Out of Merit Dispatch Charge An importer with an operating block that has an offer price greater than or equal to the import marginal price must pay an out of merit dispatch charge to the ISO for the importer s out of merit energy production as calculated by the following formula: Out of merit dispatch charge in $ = sum of out of merit dispatch payments in $ multiplied by importer s out of merit energy production divided by sum of all importers out of merit energy production Where: out of merit dispatch payment is as prescribed under importer s out of merit energy production means the quantity in MW dispatched above import marginal price for the out of merit dispatch period. 8.2 Sink Asset Calculations Settlement at Pool Price A pool participant must forward to the ISO in respect of electric energy received by it in a settlement interval the amount calculated by applying the following formula: energy charge in $ = ((energy consumption in MWh) minus (net settlement instruction MWh volumes in MWh)) multiplied by (pool price in $/MWh) Where: Energy consumption in MWh is the metered MWh value for load assets or the interchange MWh schedule across the interconnection for exporting assets. 17

18 If the energy consumption in MWh is less than the net settlement instruction MWh volume, then the pool participant is deemed to have sold the MWh volume difference to the power pool. The ISO will pay the pool participant in respect of electric energy supplied in a settlement interval an amount equal to the energy charge Post Final Adjustment Mechanism Financial Allocation The ISO will calculate and include post final adjustment mechanism payments and charges on the pool statement, as required by rule 7, of the ISO rules Settlement for Supplier on the Margin Payments For any settlement interval where a pool participant has been paid a energy production uplift in accordance with rule 8.1.2, a pool participant with energy consumption in the same settlement interval must pay an amount to the ISO calculated using the following formula: Energy production uplift share charge in $ = (sum of all energy production uplifts) multiplied by the pool participant s energy consumption divided by (sum of all pool participant s energy consumption) 18

19 10.2 Forecast Scheduling Period Data, Six Day Forecast The ISO will provide forecasted information for the forecast scheduling period. The ISO will use reasonable best efforts to make available before 16:00 each day, for each of the remaining 6 days within the forecast scheduling period, the following information: a) Peak forecast AIES demand in MW for each day of the forecast scheduling period; b) Aggregate offer/supply availability in MW for each settlement interval; and c) A forecast adequacy assessment for each settlement interval, 10.3 Day Ahead, Trading Day Forecast The ISO will provide forecast information for the next trading day. The ISO will use reasonable best efforts to make available before 16:00 each day, for the next trading day the following information: a) Peak forecast AIES demand in MW for the trading day, b) Aggregate offer/supply availability in MW for each settlement interval, c) A forecast adequacy assessment for each settlement interval, and d) Such other information as the ISO considers appropriate Next Two Settlement Intervals Forecast The ISO will provide a forecast system marginal price for the next two settlement intervals. The ISO will use reasonable efforts to make available during the preceding two settlement intervals for each settlement interval of the trading day's operation the forecast system marginal price in $/MWh Trading Day History Without disclosing the source of offers or bids, the ISO will provide a summary of each trading day s activities. As soon as practicable following the end of each settlement interval, the ISO will update and make available histories showing: a) Pool price in $/MWh for each settlement interval. b) AIES demand in MW for each settlement interval. c) Forecast pool prices in $/MWh for the same trading day. d) Regarding power pool supply, without disclosing the source of such offers, the following as contained in the offers: 19

20 i) Operating block(s) in MW; ii) Price block(s) in $/MWh. e) Regarding power pool purchases and without disclosing the source of such bids the following as contained in the bids: i) Operating block(s) in MW; ii) Price block(s) in $/MWh. f) Summary of declared changes to offer and bid availability without disclosing the source of such declared changes. 20

21 APPENDIX 5 - INFORMATION TO BE PROVIDED THROUGH THE ISO Information Type / Availability 6 days Ahead, Over Forecast Scheduling Period Day Ahead - Trading Day Forecast Settlement Interval Ahead Real Time Following Settlement Interval Following End of Settlement Period Historical Forecast Dispatch Price in $/MWh Forecast Pool Price/Settlement interval in $/MWh Forecast Peak Hour AIES demand, MW Aggregate Offer/Supply Availability, MW/h Adequacy Assessment Price Block setting System Marginal Price (Source Kept Confidential) Price Block setting Marginal Price (Source Kept Confidential) Price Block setting Import Marginal Price (Source Kept Confidential Actual Pool Price in $/MWh/Settlement Interval Actual AIES demand in MW/hour Detail Associated With Offers + Bids (Source Kept Confidential) Current Supply & Demand Actual Energy Production MW/Asset/hour Actual Energy Consumption MW/hour demand Legend: (Shading Indicates Not Applicable) 21

22 APPENDIX 6 - TRANSMISSION LOSS FACTOR METHODOLOGY & ASSUMPTIONS Appendix 6, the Transmission Loss Factor Methodology and Assumptions document.

23 APPENDIX 7 - SUMMARY OF RULE CHANGES Appendix 7 is for reference purposes only and does not affect the interpretation of the rules. Please click here to view the Summary Table of Rule Changes. 23

24 SCHEDULE OF ISO FEES

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